Stada Arzneimittel AG, Germany’s biggest publicly traded generic-drug maker, rose to the highest price in 21 months after the company confirmed its forecast for next year.
Stada climbed as much as 5.1 percent and traded 2.5 percent higher at 29.70 euros as of 2:12 p.m. in Frankfurt, the highest intraday price since May 12, 2011. That gives the company a market value of 1.76 billion euros ($2.3 billion). The stock has gained 31 percent in the past year including reinvested dividends, compared with a 14 percent return for the CDAX Performance Index. Almost 345,000 shares were traded, slightly more than the three-month average.
Net income excluding some items in 2014 will reach 215 million euros “at minimum,” Bad Vilbel, Germany-based Stada said in a statement today, confirming previous forecasts for profit and sales. Analysts had been predicting adjusted net income of 193.6 million euros, according to estimates compiled by Bloomberg.
Stada said it will pay a 2012 dividend of 50 euro cents per share, compared with 37 euro cents in the previous year. Sales last year climbed 7 percent to 1.84 billion euros and net income almost quadrupled to 86.5 million euros.